Aug. 26 (Bloomberg) -- Banvit, a Turkish chicken producer,
rallied to the highest close in more than a year on speculation
Russia will allocate a quota for poultry as it tries to increase
food imports from the country.

Banvit Bandirma Vitaminli Yem Sanayii Ticaret A.S., as the
company is known, rose 4.6 percent to 3.65 liras. It finished at
the strongest level since July 2013. About 6 million shares
traded, more than four times the three-month daily average,
according to data compiled by Bloomberg. The stock has advanced
49 percent this month, compared with a 1.7 percent loss for the
Borsa Istanbul 100 Index.

Russia wants to buy more food from Turkey after it banned
imports from the U.S., the European Union, Norway, Australia,
and Canada in retaliation for sanctions placed on it over the
conflict in Ukraine. Russia’s food-safety agency said on Aug. 22
it would allow for dairy imports from three Turkish suppliers,
fueling speculation the country may add a quota for poultry,
according to Bertug Tuzun, an analyst at Istanbul-based Ak
Investment.

“If the quota opens, Banvit definitely benefits from this
issue, as domestic prices will go up because the excess capacity
will be diverted to the Russian market,” Tuzun said by e-mail.
“This will positively affect the valuation.”

A spokesman for the company said he was unable to
immediately comment when contacted by phone today.